Author: Chris Hawley

The ‘buyer’ of a bulk annuity contact is the scheme’s trustees, who are required to take formal advice as part of the process. However, the views of the sponsor are important for any bulk annuity purchase, and they should be involved from the outset, particularly if additional funds need to be paid into the scheme.

In a welcome move, the Central Bank of Ireland (“CBI”) has simplified the authorisation requirements for Qualifying Investor Alternative Investment Funds (“QIAIFs”) that invest in life settlements by confirming that pre-submissions are no longer required in connection with their applications for authorisation.  These QIAIFs are once again included in the categories of QIAIFs that may avail of the CBI’s 24-hour fast-track authorisation process (“Fast-Track Authorisation Process”).  Fast-Track Authorisation Process for QIAIFs A QIAIF is an alternative investment fund (“AIF”) authorised by the CBI, under the European Union (Alternative Investment Fund Managers) Regulations 2013 and its AIF rulebook, marketed to professional…